MARKET UPDATE:Sensex rose 400 points to 49,130 levels and Nifty topped the 14,750-mark
Published On: Monday, May 17, 2021 | By: Team KnowMyStock
The indices in India added to their early gains and rose nearly one per cent in early trade today (17th May 2021) amid favourable global cues and further fall in daily Covid-19 cases across the country. The S&P BSE Sensex rose 400 points, or 0.83 percent, to 49,130 levels and the Nifty50 index topped the 14,750-mark. IndusInd Bank and State Bank of India rose 2 percent, each, and were the top Sensex gainers. Meanwhile, Larsen & Toubro and Sun Pharma slipped 1 percent, each. All the Nifty sectoral indices traded in the green, led by the Nifty PSU Bank index, up 2.2 per cent. Broader markets tracked the gains in the benchmarks, and the S&P BSE MidCap and SmallCap indices were trading 0.5 per cent and 0.8 percent higher, respectively. Twenty-four companies including mainly Bharti Airtel, Federal Bank, Colgate-Palmolive, and Orient Cement are slated to post their quarterly results today
Bharti Airtel is set to announce its March quarter results of FY21 (Q4FY21) on Monday amid expectations of a strong operating print and a moderation in average revenue per user (ARPU) with interconnect usage charge (IUC) going to zero. Analysts will keep a keen eye on the management's commentary on ARPU trajectory and non wireless business.
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